We have witnessed positive momentum in Nifty and closed just a tinge above 7600 at 7605. This was mainly as a result of positive news from FED which did not raise its rates and market rallied to this news. S&P 500 also closed positive for first time in 2016 this Friday as the US’s Federal reserves dovish tone and a strengthening economic outlook compelled investors to take on more risk.
Stronger-than-expected economic data, such as recent jobs and wages reports, and improved expectations for corporate earnings, have also eased recession fears and emboldened investors.
Although the pharma sector remained on pressure on the last day as government banned some drugs which were doing well in the market.
Bank Nifty also cherished the FED’s step not to raise rates and remained positive closing at 15669. Now there are chances that RBI will cut rates to give another boost to the market.
So all in all, a positive budget by Mr Jaitley, FED’s decision to not raise rates and RBI to rather slash rates has given market new hopes and may have just avoided a market crash which was much on the cards
Last week... Our buy call on Nifty... Bank Nifty... ACC... Kotak Bank... Mindtree and many more proven great.
Hope you all minted money with us. Still need trial... Need not to worry at all. Watch more
Now what to expect???
Now Nifty future closed above 7600 on firday, which is a great positive but now has a resistance at 7630.
A close above 7630 will see more upside rally till 7688---7723 and then to 7791+ mark in days to come. Crucial support intact at 7510---7430 mark.
On the other hand. Bank Nifty has hurdle at 15750. Close above 15750 will see more upside rally till 15900---16050. More and more power we will see only above 16050 mark.
Chances are high of Bank Nifty to remain positive for the coming week as well.
Now 15000 act as major and crucial support.
More will be updated during market hours.
Till then, Trade with our levels and keep minting money.
Today's top pick
After mindblowing rally we have seen consolidation phase in it. After ACC and Ambuja cement... Chances are likely for upside move in LT too.
A gap up opening confirms the rally and we will see a sharp upside move in it.
Above 1210... Catch it with stop loss below 1190 on closing basis for the initial target of 1250+ mark. (Level mentioned here as per Future price scrips)
More will be update soon during market hours only on our Android App!!
